B2B Referrals
Author: Referral Network
B2B referrals are also known as business to business referrals. They provide a reciprocal method for you to find potential clients, products, services and customers that can benefit your company. These benefits can come in the form of reputation establishment and financial gain. In fact, the value of personal referral recommendations is priceless.
Fear of Referrals Requests
It is surprising how many business people are uncomfortable with or fear requesting referrals from customers, clients and other business people. Maybe you have a strict policy regarding this, but there are some powerful ways in which you can do this in a less direct and more comfortable fashion.
Do you feel concerned about asking for personal recommendations to get some good referrals? You are not alone. You are no doubt like many business people, fearful of scaring off customers by asking for referrals and contact information for their acquaintances and friends.
The reality is that these fears are totally unfounded. If this describes you then your business is losing out on the huge business potential available to you. In fact, asking for personal referrals from customers can be done through a properly structured and carefully managed marketing type program. Customers may be busy, give referrals more spontaneously and inconsistently, but you would be surprised at how glad they are to share their knowledge and give you referrals because they too value your business services and products.
Indirect Personal Referral Requests
Indirect, personal referral requests are your way of inviting your customers to volunteer referrals in a more professional manner. Your first step is to have ample and easy to find business cards for all of your staff that has contact with your customers. Provide them with a card so they can communicate with you with their questions and problems. Each customer will no doubt keep your business card and when the need arises amongst their friends and acquaintances for the services and products that you offer, each customer will have an easy answer. That answer will be a word of mouth referral that will drive more customers to your doors.
You can also use incentives for recommending friends to your company by using a quick recommendation card. These cards can be handed to each customer, providing a box in which they can leave their referrals. Then, you can follow up with any marketing campaigns that you have, whether by flyers or by phone.
B2B Referrals
Business to business referrals work in very much the same fashion as personal referrals, but the difference is that other business people are accustomed to networking using referrals and are much easier to approach. You should always have your business cards handy wherever you go and most especially when you are dealing with business community events. However, if you are a part of an online business social community, providing a viewable copy of your business with your profile is highly beneficial. Alternatively, you can use your business card as your avatar.
Benefits of B2B and Personal Referrals
Both B2B and personal referrals have very similar benefits. By having an official policy for this your company can progress and grow.
B2B referrals help you find other products and services that you need to run your business. You can find other reputable
companies to work with, suppliers and get better value for your money. In addition, you can find other businesses that need your services and products or can provide you with solutions to your business issues.
Once you have established business contacts within your community, you can meet with them periodically to discuss their evaluations of your services and products or projects that you are currently working on for them or with them. You can use a simple method to ask for referrals, such as:"We are glad you are happy with the project, Al. As you said, it went beyond your expectations, was ahead of schedule, within the budget and you saved money. Are you happy with the overall results, Al?"
After the reply you can then say, something such as:
"That's good to hear, Al. It's always a pleasure to help you, but may I ask if you could do me a small favour, please?"
The response is always 'yes' when a project has been well done.
You can then say:
"I need to find some reputable firms that would like to share in the benefits that you have with this project. Do you of any that you can introduce to my products, services and me, Al?
This is just one example, but the benefits to you and your clients/other businesses are two fold. It is quite common for them to come back to you, looking for B2B referrals also. So both your business and theirs end up in a win-win situation. However, always be sure to follow up all referrals, B2B or personal, with an appreciation letter. It creates a personal relationship with customers, clients and other businesses, a rapport that is highly valuable and makes them feel appreciated.
Conclusion
B2B reciprocal and personal style referrals are highly valuable to your business. It is a two-way street where you gain more customers and clients and find reputable providers and suppliers of business and services that you need, and in return, you offer the same things in return, appreciation and end up with more referrals, even when you do not ask for them as your happy clients, customers, suppliers and providers always think of you when they do their business dealings.
Last_modified 04/29/2010 14:56:43